January 21, 2017
East New York and Bushwick will be the most in-demand neighborhoods in New York City, according a survey of hundreds of clients of real estate data website PropertyShark.
That might be a big surprise, as those neighborhoods include some of the last places in New York that could still be called blighted. However, property values have already begun to grow more slowly in New York’s most expensive neighborhoods — and will continue to slow in 2017, according to 84% of respondents.
East New York could benefit from a recent rezoning that would allow new development, while Bushwick will also benefit from home buyers priced out of Williamsburg. The median home sale price in Williamsburg in 2016 was $339,275, up 19% from the year before and 44% over the past five years.
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